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ACCA paper p1 governance risk and ethics EXAM KIT

Professional Examinations

Paper P1

Governance, Risk and Ethics
EXAM KIT


P AP E R P1 : G OVERN ANC E, R ISK AND ETH ICS

British Library Cataloguing-in-Publication Data
A catalogue record for this book is available from the British Library.
Published by:
Kaplan Publishing UK
Unit 2 The Business Centre
Molly Millar’s Lane
Wokingham
Berkshire
RG41 2QZ
ISBN: 978-1-78415-232-1
© Kaplan Financial Limited, 2015

Printed and bound in Great Britain.
The text in this material and any others made available by any Kaplan Group company does not
amount to advice on a particular matter and should not be taken as such. No reliance should be
placed on the content as the basis for any investment or other decision or in connection with any
advice given to third parties. Please consult your appropriate professional adviser as necessary.
Kaplan Publishing Limited and all other Kaplan group companies expressly disclaim all liability to
any person in respect of any losses or other claims, whether direct, indirect, incidental,
consequential or otherwise arising in relation to the use of such materials.
All rights reserved. No part of this examination may be reproduced or transmitted in any form or
by any means, electronic or mechanical, including photocopying, recording, or by any information
storage and retrieval system, without prior permission from Kaplan Publishing.
Acknowledgements
The past ACCA examination questions are the copyright of the Association of Chartered Certified
Accountants. The original answers to the questions from June 1994 onwards were produced by
the examiners themselves and have been adapted by Kaplan Publishing.
We are grateful to the Chartered Institute of Management Accountants and the Institute of
Chartered Accountants in England and Wales for permission to reproduce past examination
questions. The answers have been prepared by Kaplan Publishing.

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CONTENTS
Page
Index to questions and answers

v

Analysis of past papers

xi

Exam technique

xiii

Paper specific information


xv

Kaplan’s recommended revision approach

xix

Kaplan’s detailed revision plan

xxi

Section
1

Practice questions – Section A

1

2

Practice questions – Section B

45

3

Answers to practice questions – Section A

111

4

Answers to practice questions – Section B

245

In addition to providing a wide ranging bank of real past exam questions, we have also included
in this edition:


An analysis of all of the recent new syllabus examination papers.



Paper specific information and advice on exam technique.



Our recommended approach to make your revision for this particular subject as effective
as possible.
This includes step by step guidance on how best to use our Kaplan material (Complete
text, pocket notes and exam kit) at this stage in your studies.



Enhanced tutorial answers packed with specific key answer tips, technical tutorial notes
and exam technique tips from our experienced tutors.



Complementary online resources including full tutor debriefs and question assistance to
point you in the right direction when you get stuck.

K APLAN P UBLI S H I N G

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P AP E R P1 : G OVERN ANC E, R ISK AND ETH ICS

You will find a wealth of other resources to help you with your studies on the following sites:
www.mykaplan.co.uk
www.accaglobal.com/students/

Quality and accuracy are of the utmost importance to us so if you spot an error in any of our
products, please send an email to mykaplanreporting@kaplan.com with full details, or follow the
link to the feedback form in MyKaplan.
Our Quality Co-ordinator will work with our technical team to verify the error and take action to
ensure it is corrected in future editions.

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K A P LA N P UB L I S H I N G


INDEX TO QUESTIONS AND ANSWERS
INTRODUCTION
Paper P1: Governance, Risk and Ethics, was first tested in December 2007 under its previous name
Professional Accountant. At that time it was a new paper, added to the syllabus to place ethics
and governance prominently within the qualification.
Recent research and feedback from employers on ACCA's 2010 syllabus indicates risk is an
important issue, especially in the current economic climate. It is therefore essential that this topic
is adequately covered by the syllabus.
In the ACCA Qualification, introduced in 2007, ACCA increased the coverage of risk. However,
based on employer feedback, ACCA has increased this even further in the revised syllabuses, first
examined in June 2011.
To reflect this increased coverage of risk, ACCA considered it appropriate to change the name of
Paper P1 from Professional Accountant to Governance, Risk and Ethics. This is a more accurate
description of the syllabus content and will give employers the assurance that risk is adequately
covered by the ACCA Qualification.
The paper name change came into effect June 2011.
Note that this kit contains past ACCA exam questions for this paper, which are labelled as such in
the index.

KAPLAN P UBLI S H I N G

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P AP E R P1 : G OVERN ANC E, R ISK AND ETH ICS

KEY TO THE INDEX
PAPER ENHANCEMENTS
We have added the following enhancements to the answers in this exam kit:

Key answer tips
All answers include key answer tips to help your understanding of each question.

Tutorial note
All answers include more tutorial notes to explain some of the technical points in more detail.

Tutor’s top tips
For selected questions, we ‘walk through the answer’ giving guidance on how to approach the
questions with helpful ‘tips from a top tutor’, together with technical tutor notes.
These answers are indicated with the ‘footsteps’ icon in the index.

ONLINE ENHANCEMENTS
Timed question with Online tutor debrief

For selected questions, we recommend that they are to be completed in full exam conditions (i.e.
properly timed in a closed book environment).
In addition to the examiner’s technical answer, enhanced with key answer tips and tutorial notes
in this exam kit, online you can find an answer debrief by a top tutor that:


works through the question in full



points out how to approach the question



how to ensure that the easy marks are obtained as quickly as possible, and



emphasises how to tackle exam questions and exam technique.

These questions are indicated with the ‘clock’ icon in the index.

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INDEX TO QUES TIO NS AND ANSWE RS

Online question assistance
Have you ever looked at a question and not know where to start, or got stuck part way through?
For selected questions, we have produced ‘Online question assistance’ offering different levels of
guidance, such as:


ensuring that you understand the question requirements fully, highlighting key terms and
the meaning of the verbs used



how to read the question proactively, with knowledge of the requirements, to identify the
topic areas covered



assessing the detail content of the question body, pointing out key information and
explaining why it is important



help in devising a plan of attack

With this assistance, you should then be able to attempt your answer confident that you know
what is expected of you.
These questions are indicated with the ‘signpost’ icon in the index.

Online question enhancements and answer debriefs will be available on MyKaplan:
www.mykaplan.co.uk

KAPLAN P UBLI S H I N G

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P AP E R P1 : G OVERN ANC E, R ISK AND ETH ICS

PRACTICE QUESTIONS – SECTION A
Page number
Question

Answer

Past exam
(Adapted)

1

Manage Ltd

1

111

2

Worldwide Minerals

3

116

Dec 07

3

Hayho

5

124

Jun 12

4

Swan Hill Company

7

131

Dec 08

5

Coastal Oil

9

138

Dec 11

6

Fuel surcharges

12

146

7

AEI

13

151

8

Global-bank

14

157

Jun 09

9

Rowlands & Medeleev

16

164

Jun 08

10

Chemco

18

172

Pilot 07

11

Mary Jane

20

178

Dec 09

12

Hesket Nuclear

22

186

Jun 10

13

ZPT

25

193

Dec 10

14

Bobo Car Company

28

200

Jun 11

15

P&J

30

207

Dec 12

16

Hoppo

33

214

Jun 13

17

Wyland

35

221

Dec 13

18

Xaxa

38

230

Jun 14

19

Cheapkit

40

238

Dec 14

PRACTICE QUESTIONS – SECTION B
Page number
Question

Answer

Past exam
(Adapted)

GOVERNANCE AND RESPONSIBILITY
20

Corporate governance guidelines

45

245

21

Geeland

46

248

Dec 11

22

KK

47

252

Dec 10

23

Multi-jurisdictional governance

48

255

Dec 07

24

Football club

48

260

Dec 07

25

Delcom

49

265

26

Vestel

50

267

27

Corporate governance

51

270

28

Laland

51

274

Jun 11

29

Oland

52

278

Dec 12

30

Lum Co

53

282

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INDEX TO QUES TIO NS AND ANSWE RS

Page number
Question

Answer

Past exam
(Adapted)

31

Zogs

54

286

Jun 12

32

Rosh and Company

55

291

Jun 08

33

Corporate governance debate

56

294

Jun 08

34

Boom

57

297

35

Eastern Products

57

301

Pilot 07

36

TQ Company

58

304

Jun 09

37

Roles and relevance

59

307

38

Metto Mining

60

310

39

Sarbanes-Oxley

61

313

Dec 13

40

HWL

61

317

Dec 13

41

Badison

62

321

42

Chambon

63

323

Dec 14

43

NIC

64

326

Dec 14

INTERNAL CONTROL AND REVIEW
44

Ding

65

329

Dec 09

45

Tomato Bank

66

332

Jun 10

46

ABC Co

67

335

Pilot 07

47

Yaya

68

339

Dec 12

48

SPQ

68

343

49

Gluck and Goodman

69

346

50

YAHTY

70

350

51

Blup Co

71

355

52

FIS

72

359

53

RG

73

360

54

Supermarket

73

363

55

Treadway

74

366

Jun 10

56

FF Co

75

370

Pilot 07

57

Franks & Fisher

76

374

Pilot 07

58

CC & J

77

376

59

Loho

77

379

Dec 08
Jun 13

Dec 14

IDENTIFYING AND ASSESSING RISK
60

Landmass

78

382

61

Dubland

79

385

Jun 13

62

Ultra Uber

80

389

Dec 10

63

Regional police force

81

392

64

GHI Group

81

394

65

Bob Wong

82

397

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P AP E R P1 : G OVERN ANC E, R ISK AND ETH ICS

Page number
Question

Answer

Past exam
(Adapted)

CONTROLLING RISK
66

Chen Products

83

402

Dec 08

67

H&Z Company

84

406

Jun 09

68

Saltoc

85

410

Dec 09

69

BTS Company

86

413

70

Southern Continents Company

86

415

71

TASS

87

420

72

YGT

88

423

73

Doctors’ practice

89

427

Dec 07
Jun 11

PROFESSIONAL VALUES, ETHICS AND SOCIAL RESPONSIBILITY
74

Van Buren

90

430

Jun 08

75

Dundas

91

434

Dec 09

76

Happy and Healthy

92

438

Jun 10

77

Professional codes of ethics

93

442

Pilot 07

78

Pharma

93

444

79

Deontological ethics

94

447

80

RDC

95

449

Dec 12

81

Policy speech

96

453

Jun 09

82

INO Company

97

456

83

IFAC

98

460

84

Five ethical situations

98

464

85

Hogg Products Company

99

466

Dec 08

86

JH Graphics

100

470

Pilot 07

87

Carpets and floor coverings

101

473

88

Jojo Auditors

102

475

89

MATTI

103

479

90

Mahmood

104

481

91

Biggo Manufacturing

105

486

92

JGP Chemicals Ltd

106

490

Dec 10

93

Hum and Hoo

107

492

Jun 14

94

Bribery

108

496

95

Grindle

109

498

x

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ANALYSIS OF PAST PAPERS
The table below summarises the key topics that have been tested in the examinations to date.
D07

J08

The scope of governance





Agency relationships and
theories



The board of directors



D08 J09

D09

J10

D10

J11







D11

J12

D12

J13







D13

J14

D14

Governance and
responsibility

Board committees










Directors' remuneration



Different approaches





Corporate governance and
CSR










 

 







Reporting and disclosure

















 




















 












Internal control and
review
Management control
systems









Internal control, audit and
compliance









Internal control and
reporting
















Management information
in audit and internal
control





 

























Identifying and assessing
risk
Risk and risk management
process



Categories of risk



Identification, assessment
and measurement of risk









 
















 







Controlling risk
Targeting and monitoring
risk















Controlling and reducing
risk





Risk avoidance, retention
and modelling






















Professional values, ethics
and social responsibility
Ethical theories



Different approaches to
ethics and social
responsibility



Professions and the public
interest

KAPLAN P UBLI S H I N G










































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P AP E R P1 : G OVERN ANC E, R ISK AND ETH ICS

D07
Professional practice and
codes of ethics

J08


Conflicts of interest and
the consequences of
unethical behaviour

x ii




Ethical characteristics of
professionalism
Social and environmental
issues

D08 J09

D09

J10





J11


D11

J12

D12

 




















D10



J13



D13

J14

D14













K A P LA N P UB L I S H I N G





EXAM TECHNIQUE


Use the allocated 15 minutes reading and planning time at the beginning of the exam:

read the questions and examination requirements carefully, and

begin planning your answers.
See the Paper Specific Information for advice on how to use this time for this paper.



Divide the time you spend on questions in proportion to the marks on offer:

there are 1.8 minutes available per mark in the examination

within that, try to allow time at the end of each question to review your answer and
address any obvious issues
Whatever happens, always keep your eye on the clock and do not over run on any part of
any question!



Spend the last five minutes of the examination:

reading through your answers, and

making any additions or corrections.



If you get completely stuck with a question:

leave space in your answer book, and

return to it later.



Stick to the question and tailor your answer to what you are asked.

pay particular attention to the verbs in the question.



If you do not understand what a question is asking, state your assumptions.
Even if you do not answer in precisely the way the examiner hoped, you should be given some
credit, if your assumptions are reasonable.



You should do everything you can to make things easy for the marker.
The marker will find it easier to identify the points you have made if your answers are legible.



Written questions:
Your answer should have:

a clear structure

a brief introduction, a main section and a conclusion.
Be concise.
It is better to write a little about a lot of different points than a great deal about one or two
points.



Reports, memos and other documents:
Some questions ask you to present your answer in the form of a report, memo, letter, press
statement, briefing notes, management reporting narrative, presentation or other document.
Make sure that you use the correct format – there are usually professional marks awarded for
these styles, and they could be easy marks to gain here.

KAPLAN P UBLI S H I N G

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P AP E R P1 : G OVERN ANC E, R ISK AND ETH ICS

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PAPER SPECIFIC INFORMATION
THE EXAM
FORMAT OF THE EXAM
Section A:

Section B:

One compulsory question of 50 marks, based on a case study
scenario of several hundred words. Requirements will
include several distinct tasks and will sample the syllabus
broadly.
Two questions from a choice of three, each worth 25 marks.
Short scenarios will be given, to which all questions relate,
with each question likely to contain several tasks.

Number of marks
50

50

_______

100
_______

Total time allowed:

3 hours plus 15 minutes reading and planning time.

Note that:


Question 1 may contain requirements on any aspect of the syllabus. It will, however,
always contain some aspects of ethics.



From June 2011 onwards the examiner said “I am also introducing the possibility of
introducing some simple arithmetic calculations into Paper P1 exam paper”



Professional marks totalling 4–6 marks will usually be awarded in Section A (Question 1).



Section B questions are likely to explore one part of the syllabus in a little more depth than
Question 1. They will not, necessarily, examine only one part of the syllabus.



Generally, at least one Section B question will be heavily focused on governance and at
least one on ethics.

PASS MARK
The pass mark for all ACCA Qualification examination papers is 50%.

KAPLAN P UBLI S H I N G

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READING AND PLANNING TIME
Remember that all three hour paper based examinations have an additional 15 minutes reading
and planning time.
ACCA GUIDANCE
ACCA guidance on the use of this time is as follows:
This additional time is allowed at the beginning of the examination to allow candidates to read
the questions and to begin planning their answers before they start to write in their answer
books.
This time should be used to ensure that all the information and, in particular, the exam
requirements are properly read and understood.
During this time, candidates may only annotate their question paper. They may not write anything
in their answer booklets until told to do so by the invigilator.
KAPLAN GUIDANCE
Since there is a choice of questions in Section B, you must decide which questions to attempt, and
in which order.
During the 15 minutes of reading time you should be able to review the questions in Section B and
decide which ones are most appealing. All students have different strengths and preferred topics,
so it is impossible to give general advice on which questions should be chosen. When making this
choice ensure that you are comfortable with all parts of the questions.
In relation to paper P1, we recommend that you take the following approach with your reading
time:


Skim through Section B, assessing the level of difficulty of each question. Try to decide if
there is one question that looks very unappealing and ignore it straight away.



If you haven’t managed to eliminate one question immediately, have a detailed look at the
requirements for each of the Section B questions. Go through each part slowly and assess
how well you could score, hence enabling you to make the choice as to which two
questions you will be attempting. Ignore the other question from now on.



Now focus on the Section B questions you will be attempting. For each of the questions,
review the requirements for all parts (there are often two elements to one part) and decide
if there is any theory or model that will help you tackle them.



Turn to Section A requirements. Work carefully through the requirements, ensuring that
you are clear on the headings you will be using and what the verb requires you to do.



Write down on the question paper next to the mark allocation the amount of time you
should spend on each part. Do this for each part of every question.



Read through the scenario in Section A, noting any key issues in the given information.



Decide the order in which you think you will attempt each question:
This is a personal choice and you have time on the revision phase to try out different
approaches, for example, if you sit mock exams.

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PA PER S PE CIF IC IN FORMA TION

A common approach is to tackle the question you think is the easiest and you are most
comfortable with first.
Others may prefer to tackle the longest question first, or conversely leave them to the last.
It is usual, however, that students tackle their least favourite topic and/or the most difficult
question in their opinion last.
Whatever you approach, you must make sure that you leave enough time to attempt all
questions fully and be very strict with yourself in timing each question.


Now, for each question in turn, read the requirements and then the detail of the question
carefully.
Always read the requirement first as this enables you to focus on the detail of the
question with the specific task in mind.
Take notice of the format required (e.g. letter, memo, report, presentation – particularly
since you will be awarded professional marks for these) and identify the recipient of the
answer.
Plan your beginning, middle and end and the key areas to be addressed and your use of
titles and sub-titles to enhance your answer.
Spot the easy marks to be gained in a question and parts which can be performed
independently of the rest of the question. Make sure that you do these parts first when
you tackle the question.
Don’t go overboard in terms of planning time on any one question – you need a good
measure of the whole paper and an outline plan for all of the questions at the end of the
15 minutes.
With your plan of attack in mind, start answering your chosen question with your plan to
hand, as soon as you are allowed to start.

Always keep your eye on the clock and do not over run on any part of any question!

DETAILED SYLLABUS
The detailed syllabus and study guide written by the ACCA can be found at:
www.accaglobal.com/students/

KAPLAN P UBLI S H I N G

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KAPLAN’S RECOMMENDED REVISION
APPROACH
QUESTION PRACTICE IS THE KEY TO SUCCESS
Success in professional examinations relies upon you acquiring a firm grasp of the required
knowledge at the tuition phase. In order to be able to do the questions, knowledge is essential.
However, the difference between success and failure often hinges on your exam technique on the
day and making the most of the revision phase of your studies.
The Kaplan complete text is the starting point, designed to provide the underpinning knowledge
to tackle all questions. However, in the revision phase, pouring over text books is not the answer.
Kaplan Online fixed tests help you consolidate your knowledge and understanding and are a
useful tool to check whether you can remember key topic areas.
Kaplan pocket notes are designed to help you quickly revise a topic area, however you then need
to practise questions. There is a need to progress to full exam standard questions as soon as
possible, and to tie your exam technique and technical knowledge together.
The importance of question practice cannot be over-emphasised.
The recommended approach below is designed by expert tutors in the field, in conjunction with
their knowledge of the examiner and their recent real exams.
The approach taken for the fundamental papers is to revise by topic area. However, with the
professional stage papers, a multi topic approach is required to answer the scenario based
questions.
You need to practise as many questions as possible in the time you have left.

OUR AIM
Our aim is to get you to the stage where you can attempt exam standard questions confidently, to
time, in a closed book environment, with no supplementary help (i.e. to simulate the real
examination experience).
Practising your exam technique on real past examination questions, in timed conditions, is also
vitally important for you to assess your progress and identify areas of weakness that may need
more attention in the final run up to the examination.
In order to achieve this we recognise that initially you may feel the need to practise some
questions with open book help and exceed the required time.
The approach below shows you which questions you should use to build up to coping with exam
standard question practice, and references to the sources of information available should you
need to revisit a topic area in more detail.
Remember that in the real examination, all you have to do is:


attempt all questions required by the exam



only spend the allotted time on each question, and



get them at least 50% right!

Try and practise this approach on every question you attempt from now to the real exam.
KAPLAN P UBLI S H I N G

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EXAMINER COMMENTS
We have included the examiner’s comments to specific examination questions in this kit for you
to see the main pitfalls that students fall into with regard to technical content.
However, too many times in the general section of the report, the examiner comments that
students had failed due to:


“failure to read the question carefully enough”



“failure to answer at the level of the verbs used in the questions”



“expecting to be able to answer the exam using ‘book work’ or ‘rote learning’” and



not appreciating that “marks will not be awarded for non-case based answers if this was the
requirement of the question”.

Good exam technique is vital.

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THE KAPLAN PAPER P1 REVISION
PLAN
Stage 1: Assess areas of strengths and weaknesses
Review the topic listings in the revision table plan below

Determine whether or not the area is one with which you are comfortable

Comfortable
with the technical content

Not comfortable
with the technical content

Read the relevant chapter(s) in
Kaplan’s Complete Text
Attempt the Test your understanding
examples if unsure of an area
Attempt appropriate Online Fixed
Tests

Review the pocket notes on this area

Stage 2: Practice questions
Follow the order of revision of topics as recommended in the revision table plan below and
attempt the questions in the order suggested.
Try to avoid referring to text books and notes and the model answer until you have completed
your attempt.
Try to answer the question in the allotted time.
Review your attempt with the model answer and assess how much of the answer you achieved in
the allocated exam time.

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Fill in the self-assessment box below and decide on your best course of action.

Comfortable with question attempt

Only revisit when comfortable with
questions on all topic areas

Not comfortable with question attempts

Focus on these areas by:

Reworking test your understanding
examples in Kaplan’s Complete Text

Revisiting the technical content from
Kaplan’s pocket notes

Working any remaining questions on
that area in the exam kit

Reattempting an exam standard
question in that area, on a timed,
closed book basis

Note that:
The ‘footsteps questions’ give guidance on exam techniques and how you should have
approached the question.
The ‘clock questions’ have an online debrief where a tutor talks you through the exam
technique and approach to that question and works the question in full.

Stage 3: Final pre-exam revision
We recommend that you attempt at least one three hour mock examination containing a set of
previously unseen exam standard questions.
It is important that you get a feel for the breadth of coverage of a real exam without advanced
knowledge of the topic areas covered – just as you will expect to see on the real exam day.
Ideally this mock should be sat in timed, closed book, real exam conditions and could be:


a mock examination offered by your tuition provider, and/or



the last real examination paper (available shortly afterwards on MyKaplan with ‘enhanced
walk through answers’ and a full ‘tutor debrief’).

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theories of
governance

corporate
governance
approaches





KA P LAN PUBL I SH ING

what is it and
why



Corporate governance

Topic

7

1

1–2

Complete
Text
Chapter

7

1

1–2

Pocket
note
Chapter

Q18

Q29(a)
Q26(a)
Q27(a)

Q2(a)
Q9(d)(iii)

Questions
to attempt

KAPLAN'S DETAILED REVISION PLAN

Review the introductory sections about
corporate governance, including revision of
the key concepts in governance. These
concepts are often tested as a small part of
question, such as in Q2 (a) and Q9 (d)(iii).
Agency theory is another popular topic, but
again rarely forms an entire question on its
own. Q23 (a) allows you to start with a
straightforward theory question.
Once you are happy with the theory, move
onto tackle Q26 (a) and Q27 (a) which
requires application to a scenario. It would
be good to try these questions in full to
ensure you can explain the concepts clearly.
Q18 covers a range of questions on the
varying approaches to corporate
governance.

Tutor guidance

Date
attempted

Self-assessment

xx i ii


xx iv

board of
directors

directors’
remuneration

relations with
shareholders and
disclosure







Topic

5

4

Complete
Text
Chapter
3

5

4

Pocket
note
Chapter
3

P AP E R P1 : GOVERN ANCE, R ISK AND ETHICS

Q4(d)
Q19

Q31
Q34

Q11(a),
(c)&(d)
Q17
Q23

Questions
to attempt
This is the biggest topic in the area of
corporate governance and appears, in some
form or another, on every exam.
Q11 (a),(c)&(d) provides good practice on
board composition and structures. Q17
allows you to look at the chairman/CEO roles
more closely, and it is a good question to try
in full.
Q27 moves onto the areas of nominations
and removal of directors. Q23 also provides
coverage of the induction process.
This is a highly topical area and hence is
examined fairly frequently. Q31 covers both
the topics of the remuneration package and
the committee that sets it.
Q34 proves to be a challenging question on a
number of topics relating to directors and
their remuneration. Try this one in full, to
time, and review the solution carefully.
This is a small area of the syllabus, and
appears occasionally in exam questions.
When asked, it is only for a few marks.
Q4 (d) looks at the subject of disclosure for
10 marks.
Q19 provides coverage of shareholder
intervention and some other governance
topics – a good recap question.

Tutor guidance

Date
attempted

K A PLA N PUB L I SH ING

Self-assessment


audit and
compliance



10 (and
part of 6)

KA P LAN PUBL I SH ING

Identifying and assessing risk
11
− identifying risk

information
requirements



9

Complete
Text
Chapter
Internal control and review
9
− internal control
systems

Topic

11

10 (and
part of
6)

9

9

Pocket
note
Chapter

Q11(b)
Q4(b)

Q43
Q42

Q47

Q42
Q44
Q46

Questions
to attempt

Risk identification is usually asked in a broad
question requiring you to look within a
scenario for examples of risks – this can be
seen in Q11 (b).
Risk classifications are an alternative way of
addressing the subject, as seen in Q4 (b).

Internal controls has been examined
frequently; sometimes in a theory question,
often requiring application. It is generally
part of a question with either audit or risk.
Q42 (a) is good practice of the theory in the
area (try it later – once you have revised
audit) with Q44 and Q46 moving onto an
application type question.
The topic is rarely examined, focussing on
the information needs of management in
control, risk management and review. Q45
provides practice in this area.
Q43 covers a range of topics within this area.
Note the overlap with ethical threats in
part (d).
Q42 (c) provides practical application to a
given scenario. Try Q42 in full and practise
your time management.

Tutor guidance

Date
attempted
Self-assessment

xx v

KA PLAN 'S DE TA ILE D REV IS ION PLAN


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